The digital asset market has once again experienced volatile trading overnight. Bitcoin's secondary rise has been hindered by a key resistance area, and it currently maintains a boxed fluctuation structure. The current market trading sentiment is becoming cautious, with both bulls and bears locked in a tug-of-war at important technical junctures.
Market Analysis:
Bitcoin Daily Cycle:
The daily cycle continues to maintain a boxed consolidation structure, with price recovery hindered at the strong resistance area of $96,000. Over the past week, the market has continuously operated within the $90,000-$95,500 range, with the forces of bulls and bears showing a dynamic balance. Technical indicators show neutral to weak signals: MACD volume continues to contract and the two lines are tending to converge, while the KDJ indicator shows signs of turning downward at a high level, indicating a weakening of short-term upward momentum, which requires caution against technical pullback risks.
Ethereum Technical Formation:
ETH/BTC maintains a high degree of correlation, currently trading within the $1,815-$1,830 fluctuation range. After losing the support of the middle track of the Bollinger Bands on the four-hour level, the price rebounded weakly. The MACD has formed a bearish crossover and the momentum bars continue to expand, leading to a short-term trend turning towards a bearish pattern. The important defensive level has shifted down to the $1,750 mark, and an effective breakdown could trigger accelerated downward movement.
Trading Strategy:
BTC Trading Plan
Maintain a short strategy on rebounds
Entry Range: $95,200-$95,500
Profit Target: First target at $93,500 support (if effectively broken, then look towards $92,000)
Stop-Loss Reference: Exit manually if it stabilizes above $96,500
ETH Trading Plan
Synchronize with a high short strategy
Entry Area: $1,815-$1,830 resistance zone
Target Space: $1,750 platform (if broken, can extend to $1,720)
Risk Control Settings: Execute stop-loss if effectively breaks through the $1,840 resistance
